Pokarna Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 15, 2008, inter alia, has transacted the transfer of Engineered Stone division, situate at Andhra Pradesh Special Economic Zone, Plot no. 45, Achutapuram & Rambili Mandals, Visakapatnam District, Andhra Pradesh to Pokarna Engineered Stone Ltd, wholly-owned subsidiary of the Company, by way of Court sanctioned scheme of arrangement under Sections 391-394 of the Companies Act, 1956 ("Scheme of Arrangement"). In principally approved the draft Scheme of Arrangement between the Company and Pokarna Engineered Stone Ltd and have authorised 'Business Restructuring Committee' to finalise the Scheme in consultation with the Advisors of the Company. Pokarna Ltd has informed BSE that the equity shareholders, secured creditors and the unsecured creditors of the Company at their separate Court Convened Meetings held on February 08, 2009, have approved the Scheme of Arrangement between the Company and Pokarna Engineered Stone Ltd with requisite majority. (As Per BSE Announcement Website dated on 09.02.2009) Pokarna Ltd has informed BSE that Hon'ble High Court of Andhra Pradesh has sanctioned the Scheme of Arrangement between Pokarna Ltd and Pokarna Engineered Stone Ltd and their respective Shareholders and Creditors. (As Per BSE Announcement Dated on 15/05/2009)